Authority CEO Amit Mohan Prasad said they would soon come up with a plan to secure the interest of over 32,000 homebuyers in the Jaypee Wish Town projectSharmila Bhowmick | TNN | August 12, 2017, 07:51 IST

Authority CEO Amit Mohan Prasad said they would soon come up with a plan to secure the interest of over 32,000 homebuyers in the Jaypee Wish Town project. “We will not allow their hard-earned money to go down the drain. We will take the strictest action against the developer in case it flouts laid down norms,” he told TOI.

Jaypee had in April this year promised to deliver 32,000 units in the Wish Town project by 2020. Till now, possession has been given only to 6,500 homebuyers.

In the wake of the development, Noida Authority is all set to build pressure on defaulting builders of group housing projects in the city.

Officials said the Authority would soon send pay-up notices to builders of 94 projects in the city for defaulting in payments due in lieu of land allotted to them for construction of group housing societies. The dues are to the tune of Rs 11,000 crore.

They said defaulters would be given 15 to 30 days to clear their dues, failing which their lease deeds could be cancelled. “We will soon announce a workable schedule and payment plan for the defaulters so that they can start clearing their dues,” AK Rai, additional CEO (ACEO), Noida Authority, told TOI.

“However, Jaypee does not owe anything to the Authority as the land for its Wish Town project was given free as per the Memorandum of Understanding for construction of the Yamuna e-way,” the CEO said.

In a related development, Noida Authority has sought permission from the state government to take over unsold residential units in half-a-dozen projects of Amrapali group. The aim is to use the proceeds from the sale of this unsold inventory to help thousands of homebuyers get possession of their homes.

Amrapali group owes the Authority over Rs 1,200 crore and has to deliver nearly 30,000 residential units to home buyers. Letters have been written to the UP principal secretary (industries) Alok Sinha. Once a nod is received from the state government, the Authority will work out a detailed plan for the same. The same plan can then also be implemented in other defaulter cases, said officials.

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